Formula One supremo Bernie Ecclestone has teamed up with Union Properties to build the first ever Formula One World theme park at MotorCity in Dubailand. The developer has signed a deal with Formula One Administration to build the US $360 million project, which will spread over an area of 460 000 m2. The deal has ignited speculation that Dubai could pose a threat to the Bahrain Grand Prix. But Martin Whitaker, the general manager of the Bahrain track, has denied that the announcement poses a threat to its long term contract with Ecclestone. The MotorCity development will include a hotel and advanced conference centres. Construction work is expected to begin in 2006 and will be completed in 2008. Union Properties chairman Anis Al Jallaf, said: “We are intent on creating the most exciting and imaginative theme park in the world. This is another landmark in the rapidly developing landscape of 21st century Dubai.” Bernie Ecclestone, CEO, Formula One Administration said: “I’m pleased to be working with Union Properties and have every confidence that they will deliver an outstanding development, which Formula One fans the world over will enjoy.” The FIA Formula One World Championship is the world’s most popular annual sporting series and in 2004 was broadcast on television across a record setting 174 countries. This year is the biggest calendar in the history of F1 racing with 19 races across four continents. Formula One Administration, founded by Bernie Ecclestone, holds the exclusive commercial rights to the FIA Formula One World Championships.